The global Small Satellite Market was valued at US$ 3.3 Billion in 2021 and is expected to surpass US$ 12.6 Billion by 2030, registering a CAGR of 16.2% during the forecast period (2022-2030), according to the Global Small Satellite Market Report,  by Satellite Size (Minisatellite, Microsatellite, Nanosatellite, Picosatellite, Femtosatellite),  by Application Type (Earth Observation, Telecommunication, Scientific Research, Technology Demonstration), by End User (Civil, Defense, Commercial, Government), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), published by Coherent Market Insights.

Significant growth in the communication and telecom sector is expected to increase demand for small satellites during the forecast period Satellite communication technology offers data, voice, and video services in remote locations. It helps to track and monitor vehicles and vessels to offer efficient logistics support.  Provide internet facility and calling connectivity for business to set up in rural and backward area across the globe. According to analysis, around 6200 satellite are expected to be launched by 2027, of which around 50% are expected to belong to the telecom industry.

The growth of small satellite market is attributed to increasing adoption of small satellites for earth observatory and defense applications. Small satellites are used by government organizations in earth observatory for several applications such weather forecasting and agriculture or wasteland and natural resources management. Small satellites also can be used to monitor natural calamities and affected areas. Small satellites are used in the defense sector to monitor international borders and activities during warfare situations. Satellite phones also offer communication in remote areas. Use of small satellites for earth observatory is also one of the contributing factors for the small satellite market growth. According to ’ analysis, around 1,980 operational satellites were in space till April 2018, and 684 of these were tasked to offer services for earth observation. Earth observation satellites are mainly used for optical imaging, radar imaging, infrared imaging, and multispectral imaging.

Key Developments

  1. On June 30, 2022, Thales Alenia Space is a Franco-Italian aerospace manufacturer signed a joint venture with Leonardo S.p.A a multi-national company specialized in defense, space launched SES-22 satellite into space onboard a SpaceX Falcon 9 rocket. This satellite will clear a part of the C-band spectrum to enable wireless operators to establish 5G services across the contiguous U.S. (CONUS).
  2. In February 2022, Indian Space Research Organization’s (ISRO) PSLV-C52 (Polar Satellite Launch Vehicle) successfully launched earth observation EOS-04 and two small satellites.

Global Small Satellite Market- Impact of Coronavirus (Covid-19) Pandemic

The covid-19 pandemic has immensely damaged the global economy. The global small satellite market faced many challenges during the pandemic. The stringent lockdown imposed by the government of various countries disrupted the business logistics and supply chain operations. Due to this the global small satellite market also witnessed supply chain disruptions and hence the space launch projects were delayed resulting in slow growth of the global small satellite market.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/small-satellite-market-2512

Browse 150 market data tables* and 90 figures* on “Global Small Satellite Market- forecast to 2030”

Key Trends and Analysis of the Global Small Satellite Market:

  • North America held a dominant position in the global small satellite market in the year 2021. The research and development activities carried out by National Aeronautics Space Association (NASA) and the increased spending of the military on surveillance and reconnaissance activities is driving the growth of the small satellite market. Sensors mounted on the small satellites help in detecting the nuclear explosions, locate an enemy location, monitoring the terrain, etc. All these advantages of small satellites are driving the growth of the small satellite market in the North America region.
  • Asia Pacific and Latin America is expected to witness significant growth in the small satellite market, owing to increasing government and private investments for development of small satellites. For instance, the U.S. Government Department of Defense and the National Aeronautics and Space Administration announced investment of US$ 110 million for development of small satellites.
  • Among satellite size, the nano satellite segment is expected to witness a major growth over the forecast period. Nano and microsatellite finds application in the civil and defense sector and can also be used for earth observation and reconnaissance mission.
  • Major players operating in the global small satellite market include Harris Corporation Airbus Defense and Space, Boeing, Geooptics Inc., Lockheed Martin Corporation, Millennium Space Systems Inc., Northrop Grumman Corporation, OHB AG, Oneweb Ltd, Planet Labs Inc., Sierra Nevada Corporation, Singapore Technologies Engineering Limited, Space Exploration Technologies Corp. (Space X), Surrey Satellite Technology Ltd., and Thales Alenia Space.

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